A few years ago, a friend of mine who worked at Amazon Web Services told me something that stuck with me: At AWS, before they write a single line of code when thinking about launching a new product, they start by writing the press release they hoped would go out the day it all went live. Doing this exercise forced the team to think about what steps they needed to take to make that press release a reality.
Have you thought about what you want in your press release the day after you sell your business? Try to envision it – What would the Wilmington Business Journal headline look like?
If that’s hard to picture, you’re not alone. Many business owners are too entrenched in running their businesses to have time to think that far down the road. And without our high school English teacher pestering us, we are not spending time on creative writing assignments. But bear with me – taking the time to envision the details of your end game can ensure you make the right moves to get there.
So let’s try it.
Fictitious Press Release
FOR IMMEDIATE RELEASE Wilmington-Based Fishing Supply Company Sold to Private Investment Group in Multi-Million Dollar Deal
Wilmington, NC — Port City Angler, a leading regional manufacturer of fishing gear, announced its acquisition by Stone Capital Group, a Charleston-based investment firm. While terms remain confidential, insiders estimate the transaction enterprise value at approximately $12.5 million.
Founded in 1998, Port City Angler has become one of the Southeast’s best-known brands for commercial fishing supplies, serving both national
distributors and independent marine retailers. John Silver, the company’s founder and CEO will remain for a six-month transition.
“Port City Angler’s growing market share and revenue growth made it a top-tier acquisition opportunity,” said a spokesperson for Stone Capital. He added, “We are pleased that the strong management team and employees will remain in their roles, ensuring continued growth and uninterrupted service for a loyal customer base”
An advisor representing the seller noted that “Port City Angler well-prepared for the transition which made the process smooth and efficient for all parties.”
Following his 6 month transition, Silver, a lifelong Wilmington resident, plans to focus his time on his own passion for fishing which was the inspiration for creating the business almost 30 years ago. “Handing over the helm was part of my long-term plan – I am grateful to my team for bringing us to this point and to all the customers we have served. Now I am looking forward to enjoying some time on our beautiful waters”
Sounds like a dream headline, right? And this example is just one scenario. Maybe you’re not ready to spend your days fishing; instead, your plan is to keep a vested interest in the business while accessing its value. This is a viable option that can be structured into the deal if it’s handled correctly.
So even if you’re not ready to sell this year or next, start thinking through what you want from an exit.
Do you want full financial security and a clean break to spend more time with family or out on the water?
Or are you more like many owners we meet—still energized, still wanting to grow the business, but ready to take some chips off the table?
Maybe you’re intrigued by the idea of rolling some equity into the next chapter and getting a second bite of the apple through future upside or an earn-out.
Defining your goals matters because it will determine the kind of buyer you need—whether it’s a strategic acquirer, a hands-on investor, or a private equity firm looking to back you in scaling to the next level.
Decide what you want your press release to say the day after the deal closes—because when we know your goals, we can reverse-engineer the right conversations, the right preparation, and ultimately, the right buyer to help you get there.
There are many ways to handle an exit, but it all starts with planning.
The earlier you plan, the more options you’ll have. And the more likely it is that your own version of that press release becomes reality.
See this article on WilmingtonBiz